Home Energy Management is Expected to Exceed $3 Billion in Annual
Revenue in 2020, According to Navigant Research

Google’s purchase of Nest has provided a boost to the market,
report concludes

December 09, 2014 06:18 AM Eastern Daylight Time

BOULDER, Colo.--(EON: Enhanced Online News)--A new report from Navigant
Research examines regional and global trends in the home energy
management (HEM) market, including global HEM market forecasts, broken
out by segment and world region, through 2020.

“This sector is
poised for significant growth in 2015, as vendors release new products
and large retailers offer new, customer-friendly packages and products.”

After years of sputtering growth, the HEM market has begun to gather
momentum. Product vendors, utilities, service providers, retailers, and
other stakeholders report increasing activity, and there are signs of
growing awareness among consumers that new tools are available to help
them better manage and control their home energy consumption. Click
to tweet: According to a new report from Navigant Research, global
revenue from HEM products and services is expected to grow from $846
million annually in 2013 to more than $3 billion in 2020.

“The HEM market got a jolt when Google purchased Nest Labs for $3.2
billion in January 2014, signaling to the market that a major technology
company saw value in home energy and automation,” says Neil Strother,
principal research analyst with Navigant Research. “This sector is
poised for significant growth in 2015, as vendors release new products
and large retailers offer new, customer-friendly packages and products.”

Other active HEM vendors include Honeywell, which in June 2014 announced
its Lyric smart thermostat, featuring a geofencing capability that uses
a homeowner’s smartphone location to adjust settings. Thermostat maker
Carrier and Ceiva Energy formed a partnership to jointly offer a
solution to utilities that enables them to deploy demand response (DR)
and energy efficiency programs. Opower also released the latest version
of its customer engagement platform in 2014, which extends its analytics
capability and provides an open ecosystem for utility customers.

The report, “Home
Energy Management,” examines regional and global HEM trends, with an
emphasis on products and services along a continuum of five segments:
paper bills, web portals, standalone HEM systems, in-home displays
(IHDs), and networked HEM systems. The report examines the key drivers
and inhibitors affecting the market and delves into the major technology
issues. Global HEM market forecasts, broken out by segment and world
region, extend through 2020. The report also provides key vendor
profiles and analysis of new players, as well as details on specific HEM
case studies. An Executive Summary of the report is available for free
download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings
sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant is a specialized, global expert services firm dedicated to
assisting clients in creating and protecting value in the face of
critical business risks and opportunities. Through senior level
engagement with clients, Navigant professionals provide services that
extend from expert and advisory work through implementation and
outsourcing. The firm combines deep technical expertise in Disputes and
Investigations, Economics, Financial Advisory and Management Consulting,
with business pragmatism to address clients’ needs in highly regulated
industries including Construction, Energy, Financial Services and
Healthcare. More information about Navigant can be found at navigant.com.

* The information contained in this press release concerning the
report, “Home Energy Management,” is a summary and reflects
Navigant Research’s current expectations based on market data and trend
analysis. Market predictions and expectations are inherently uncertain
and actual results may differ materially from those contained in this
press release or the report. Please refer to the full report for a
complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.